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Old 03-05-2008, 08:26 AM
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Re: Real Time Price Action- Clue to Puzzle?

I posted this chart yesterday to provide context for the movements that the market has been making over the past few weeks, though I had not extended the demand and supply lines all the way to the right edge.


However, the zone can easily be expanded to include the band just above. Whether we actually make it that far is to be seen. But it is certainly within the realm of possibility. In that event, the midpoint will of course be raised.


I also posted this chart as a response to a question about where to locate S/R. I look, in order of importance, to zones, then levels, then points. It's interesting that price rallied to 1760 overnight.


The relevance to RT trading, of course, is that one must first find those areas or levels where traders are most likely to get excited and perhaps prompt a reversal or continuation. Today that area would appear to be 1750/60.
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Last edited by DbPhoenix; 03-05-2008 at 08:35 AM.
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